Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/76530 
Year of Publication: 
2003
Series/Report no.: 
CESifo Working Paper No. 1021
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
In this paper we address the question how the generosity of the benefit rule of the German public pension system has changed during the past three decades and how this development can be explained by demographic changes. Firstly, we illustrate the political risk of benefit rule changes for individuals. We find that depending on the birth year and the considered scenario the relative losses vary between 30 and nearly 60 percent. Secondly, we estimate how demographic developments have triggered these changes in generosity. Our results suggest that future developments of the old-age dependency ratio have an influence on the determination of generosity.
Subjects: 
social security wealth
demography
political economy
Germany
Document Type: 
Working Paper
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